Janeiro Energy

Co-founders Svein Harald Øygard and Halvard Idland lead the firm. Øygard previously served as governor of the Central Bank of Iceland and as a senior partner at McKinsey. Idland brings transaction experience from investment banking at Pareto Securities and Brasil Plural. The firm does not publicly disclose its full investment committee structure, but the co-founders' backgrounds suggest decision-making integrates macro policy perspective with local Brazilian execution capability.

Janeiro Energy sources opportunities through its Rio de Janeiro base, leveraging co-founder Halvard Idland's prior experience at Brasil Plural and the firm's established relationships with Brazilian energy operators. Its affiliate DBO Energy has taken active board positions in listed entities like 3R Petroleum, indicating a governance-driven approach to origination. The firm's Scandinavian connections likely provide visibility into companies seeking Nordic institutional backing.

Janeiro Energy operates as an institutional asset manager, not a family office. The firm does not manage a single family's wealth but rather pools capital from Scandinavian institutional investors — including entities like Norfund — and directs it into Brazilian energy investments. Its structure more closely resembles a specialist cross-border investment firm with co-investment vehicles than a traditional fund manager.

The firm's disclosed activities span upstream oil and gas through to renewable power. Affiliate DBO Energy holds stakes in 3R Petroleum, a Brazilian onshore oil and gas operator, while the firm also participates in Empower New Energy, a renewable energy platform backed by Norfund and Climate Fund Managers. This dual exposure suggests a pragmatic rather than purist approach to energy transition investing.

DBO Energy is an affiliate of Janeiro Energy and has been a significant shareholder in 3R Petroleum, a publicly listed Brazilian oil and gas company. The relationship included co-investment from Starboard, a business partner identified in Janeiro Energy's network. This affiliate structure allows Janeiro Energy to hold concentrated, active positions in specific operating companies while separating entity-level governance from the broader investment platform.